Glossary
This Glossary is provided to users of the website as a guide to terms and information they may find helpful. Definitions are added, edited or removed occasionally.
Travel Insurance
Purchased from a carrier who agrees to reimburse guests for some expense if they are forced to cancel their plans due to certain reasons. Usually these include death in the family, personal injury or flight delays. Highly recommended.
Origin: Vacation Rental Association
Travel Product
Refers to any product or service that is bought by or sold to consumers of trade including accommodations, attractions, events, restaurants, transportation, etc.
Origin: Vacation Rental Association
Travel Seasons
Travel industry business cycles including:
Peak - Primary travel season
Low - Period when business is slowest
Shoulder - period between peak and low periods when business is stronger, but has room from growth.
Origin: Vacation Rental Association
Travel Trade
The collective term for tour operators, wholesalers, and travel agents.
Origin: Vacation Rental Association
Traveler
Any person who travels either for leisure or business purposes more than 100 miles (round-trip) in a day or who stays overnight away from his other primary domicile.
Origin: Vacation Rental Association
Trip Cancellation
Provides reimbursement for certain unused, non-refundable expenses due to cancellation of your trip caused by a covered reason.
Origin: CSA Travel Protection
Unilateral Termination
When one party terminations a contract prior to the term of the contract, the other party may delcare it a unilateral action and access termination fee.
See also: Termination, Termination for Breach, ,Mutual Termination Origin: Vacation Rental Association
Unit
May refer to a room, suite or living area (such as a condo, cabin or home) which is offered to Guests for lodging use and rent. The unit includes all amenities described and associated with the unit including the grounds upon which it rests.
Origin: Vacation Rental Association
Unwelcomes
When a guest or tenant misuses a property, misbehaves, fails to pay as agreed or violates other conditions of the owner or manager's terms they are referred to as unwelcome and not allowed to rent the property again.
See also: Industry Origin: Vacation Rental Association Link: Unwelcomes.org
Use Fee
A proper term for the cost of renting a lodging property. May include rent, housekeeping and other charges.
Origin: Vacation Rental Association
Usual and customary charge
Those charges for necessary treatment and services that are reasonable for the treatment of cases of comparable severity and nature. This will be derived from the mean charge based on the experience in a related area of the service delivered and the MDR (Medical Data Research) schedule of fees valued at the 100th percentile and the Anesthesia Relative Value Guide.
Origin: Vacation Rental Association
Vacation Rental
A house, condo or other living unit used for short-term rental, usually in a resort or recreational area and having sleeping quarters, bath and kitchen. Also known as a Holiday let., Holiday Home, Holiday Cottage, Holiday Villa, Guest house or (in France) a Gite.
See also: Holiday Let, Holiday Home, Holiday Cottage, Holiday Village, Guest House, Gite Origin: Vacation Rental
Vacation Rental Manager
A company that provides comprehensive lodging management services to multiple second homes such as cabins, condos, cottages, houses, villas, etc. Such managers operate local offices, housekeepers, staff, marketing, advertising, accounting and reservations. May also refer to a person at such firm who is in charge of properties.
See also: Property Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager Origin: Vacation Rental Association
Vacation Rental Travel Insurance
A form of travel insurance, purchased from a carrier who agrees to reimburse guests for some expense if they are forced to cancel their travel plans including their rental of a vacation rental home. Covered events usually these include death in the family, personal injury or flight delays. Highly recommended.
Origin: Vacation Rental Association
Visitor
A traveler who goes to a place other than his home to experience life in a different location. Usually means a stay of a short destination.
See also: Traveler Origin: Vacation Rental Association
Visitors Center
Travel information center located at a destination to make it easier for visitors to plan their stay; often operated by a convention and visitors bureau, chamber of commerce, or tourism promotion organization.
Origin: Vacation Rental Association
VRAI - Vacation Rental Association
Trade organization that promotes the use and advancement of the vacation rental industry. Umbrella organization for VROA - Vacation Rental Owners Association, VRMG - Vacation Rental Managers Guild and VRGA - Vacation Rental Guests Association. The term VRIA is a Trademark owned by the Vacation Rental Association.
See also: Vacation Rental Owners Association Origin: Vacation Rental Association Link: VRAI.org
VRGA - Vacation Rental Guests Association
Trade association of guests who frequent vacation rental homes, organized to advocate for the benefit of its members
Origin: Vacation Rental Association Link: VRGA.org
VRMA - Vacation Rental Managers Association
The Vacation Rental Managers Association is a trade association of companies that act as sales agents and managers for vacation homes, condos and similar lodging.
Origin: Vacation Rental Association Link: VRMA.org
VRMLS - Vacation Rental Multiple Listing Service
The world's first Multiple Listing Service (MLS) for Vacation Rentals this is an Open-Listing and Open-Distribution system. Owner and Manager Members can post Properties once and have them distributed to websites around the world. Website Publisher Members can retrieve records and display the on their website.
Similar to the MLS's which have server real estate brokerage for decades; VRMLS is owned by the Vacation Rental Association a Not-For-Profit organization. The term "VRMLS" is an owned trademark.
See also: VRIA Origin: Vacation Rental Association Link: VRMLS.org
DETAILS: Glossaries and Dictionaries are handy tools. They provide an indication of meaning but additional study may be necessary to comprehend the full meaning. There may be alternate definitions not included here and experts may disagree on the proper explanation of each term.
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